Trump says call with Xi ‘reached a very positive conclusion’

• Call resulted in a very positive conclusion for both countries
• There should
  no longer be any questions respecting the complexity of Rare Earth
  products
• Our respective teams will be meeting shortly
• Conversation was focused on trade, no Ukraine or Iran

So they’ve scheduled trade talks, which at least means there is some kind of basis for moving forward and things should remain static in the interim.

Full text from Trump:

I just concluded a very good phone call with President Xi, of China,
discussing some of the intricacies of our recently made, and agreed to,
Trade Deal. The call lasted approximately one and a half hours, and
resulted in a very positive conclusion for both Countries. There should
no longer be any questions respecting the complexity of Rare Earth
products. Our respective teams will be meeting shortly at a location to
be determined. We will be represented by Secretary of the Treasury Scott
Bessent, Secretary of Commerce Howard Lutnick, and United States Trade
Representative, Ambassador Jamieson Greer. During the conversation,
President Xi graciously invited the First Lady and me to visit China,
and I reciprocated. As Presidents of two Great Nations, this is
something that we both look forward to doing. The conversation was
focused almost entirely on TRADE. Nothing was discussed concerning
Russia/Ukraine, or Iran. We will inform the Media as to scheduling and
location of the soon to be meeting. Thank you for your attention to this
matter!

This isn’t exactly a ‘breakthrough’ and I suspect many in the market were hoping for something more tangible in terms of some kind of tariff relief.

This article was written by Adam Button at www.forexlive.com.